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1,424 views Sep 14, 2007

India’s Mahindra pulls out of Jaguar & Land Rover bid

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One of the potential bidders for Jaguar and Land Rover has pulled out of the race, citing uncertainty over the supply of components from Ford post sale as well as fears the brands won’t meet impending stricter emission planned for Europe in 2012. India’s Mahindra & Mahindra, which was rumored to be partnering with Tata motors to purchase the two British marques has decided to go no further with the bidding process, reports the Economic Times.

The announcement comes following statements yesterday from Ford’s Euro boss Lewis Booth, who confirmed Ford will have no part of Jaguar or Land Rover following the sale.

Tata, meanwhile, is rumored to be in bed with Fiat and both carmakers are still tipped to be the bidding for Jaguar and Land Rover. A spokesman for Fiat revealed the Italian carmaker was ready to provide technical support to Tata for any bid.